Atec, a Cambodia-based company developing internet of things (IoT) clean cookstoves, has raised US$15.5 million in a funding round co-led by Lightrock and TRIREC.

The capital will support the deployment of up to 200,000 smart cookstoves over the next three years in Bangladesh, Cambodia, Malawi, and Nepal.

ATEC’s technology enables the measurement and verification of household-level carbon credits, which can be tracked through a blockchain ledger.

Other investors in the round include Schneider Electric Energy Access Asia Fund.

The company said its cookstoves aim to replace traditional fuels like wood and charcoal, which contribute to air pollution and greenhouse gas emissions.

ATEC reported it has distributed over 25,000 clean cooking devices in the Global South to date.

🔗 Source: ATEC